Crude futures fall, hold ground under $47

SAN FRANCISCO (CBS.MW) -- December crude is down 44 cents at $46.40 an ounce in New York. Traders are weighing increases in U.S. crude inventories against declines in distillate stocks, as well as OPEC's latest downward revision to its 2004 worldwide demand estimate. December heating oil is down 1 percent at $1.397 a gallon and December unleaded gasoline is down 2 percent at $1.231 a gallon.

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